February 03, 2009

Minutes of

Meadowood Townhomes Homeowner’s Association

Annual Meeting

February 3, 2009

President Dale Kasofsky called the Meeting to order at 7:10 PM.

Roll call and introductions were made. The homeowners present or represented by proxy were units # 141, 163, 1641, 170, 171, 176, and 177. Also present were Property Manager Ted Miller Jr. and Attorney Mike Wise.

Mr. Miller provided proof of notice of meeting.

It was determined that there was a quorum present and the meeting began.

The minutes of the February 05, 2008 meeting were read and upon motion, second the minutes received unanimous approval.

Property Manager Ted Miller Jr. presented the 2008 Financial Report. Upon motion, and second the Financial Reports were unanimously approved.

There was no officer’s report given.

There was no management report given.

Under old business there was a lengthy discussion concerning the operational costs of the community.

Under new business the sidewalks to the pool area were discussed. The need for spa re-plastering was also discussed. Upon motion second and unanimous vote it was agreed to have the spa re-plastered and when the board believes sufficient monies are available to bid out and undertake the sidewalk project.

The property manager then presented the 2009 budget. Upon motion, and second the 2009 budget was unanimously approved.

The 2009 assessment rate was discussed and upon motion second and unanimous approval it was decided to retain the current assessment rate of $ 535.00 per quarter.

There was an election of members for the Board of Directors. Upon motion, and second Ernesto Sepulveda, Shannon Curry, and Dale Kasofsky were unanimously elected.

The meeting was adjourned at 8:30 P.M.